According to the management, demand will be a function of the monsoon going forward. The weak monsoon led to patchy rural demand, it noted, adding that currency volatility was a cause of concern and may impact margins. It plans Rs 2,500 in capex in its Gujarat and Rajasthan plants.

The stock ended at Rs 2,087.50, down 1.37 percent on the BSE. It touched a high of Rs 2,134.95 and a low of Rs 2,068.05 today.